Valley National Advisers Inc. Reduces Position in General Electric (NYSE:GE)

Valley National Advisers Inc. cut its holdings in shares of General Electric (NYSE:GE) by 87.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,256 shares of the conglomerate’s stock after selling 29,990 shares during the quarter. Valley National Advisers Inc.’s holdings in General Electric were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mascoma Wealth Management LLC purchased a new stake in shares of General Electric in the third quarter worth about $54,000. Kessler Investment Group LLC lifted its holdings in shares of General Electric by 416.8% in the third quarter. Kessler Investment Group LLC now owns 646 shares of the conglomerate’s stock worth $67,000 after buying an additional 521 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of General Electric in the third quarter worth about $113,000. Arlington Partners LLC purchased a new stake in shares of General Electric in the third quarter worth about $140,000. Finally, Cim LLC purchased a new stake in shares of General Electric in the third quarter worth about $206,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

In other General Electric news, Director Leslie Seidman purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The stock was bought at an average price of $100.59 per share, with a total value of $100,590.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 2,051 shares of company stock valued at $210,673 in the last ninety days. 0.71% of the stock is currently owned by insiders.

Several research analysts recently weighed in on GE shares. Sanford C. Bernstein started coverage on shares of General Electric in a research report on Monday. They issued an “outperform” rating and a $120.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of General Electric from $127.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 10th. TheStreet upgraded shares of General Electric from a “d+” rating to a “c” rating in a research report on Wednesday, October 20th. Morgan Stanley started coverage on shares of General Electric in a research report on Tuesday, November 23rd. They issued an “overweight” rating and a $125.00 price objective on the stock. Finally, UBS Group upped their price objective on shares of General Electric from $136.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, November 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $124.13.

Shares of NYSE:GE traded up $0.15 during trading on Friday, reaching $102.61. 87,215 shares of the company traded hands, compared to its average volume of 5,054,176. General Electric has a 52-week low of $85.12 and a 52-week high of $116.17. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.50 and a current ratio of 1.80. The business’s fifty day moving average is $98.65 and its 200-day moving average is $101.97.

General Electric (NYSE:GE) last released its quarterly earnings data on Monday, October 25th. The conglomerate reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. The firm had revenue of $18.43 billion during the quarter, compared to analyst estimates of $19.17 billion. General Electric had a positive return on equity of 5.88% and a negative net margin of 0.05%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Equities research analysts predict that General Electric will post 2.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 25th. Stockholders of record on Tuesday, December 21st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, December 20th. General Electric’s dividend payout ratio (DPR) is presently -61.54%.

About General Electric

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

See Also: How to Use the New Google Finance Tool

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.